Fenced Warehouse with Eight
For Sale
Under Contract
$700,000
2337 Industrial Drive, Panama City, FL 32405
CommercialSale, Panama City, FL
Property Size4,320 SF
Lot Size0.73 Acres
Price / SF$162.04
Days on Market72
Property Features for 2337 Industrial Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Left on 231, right on Sherman, Right on Industrial
Standard status
Active Under Contract
Lot size
0.73 Acres
Taxes and HOA fees
Tax Annual Amount
1849
Utilities
Cooling system
Central Air
Building Details
Flooring type
Concrete
Roof type
Metal
Listing Agency:
Keller Williams Town & Country
(850) 201-4663
Listed By:
Brailey Horne · License #3596101
(850) 491-8099
Added: Jul 31
Changed: Oct 8
Last Checked: Oct 10 at 1:06AM
MLS# 403153
Copyright © 2026 Tallahassee Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This warehouse property contains approximately 4,320 SF on a 0.73-acre parcel at 2337 Industrial Drive in Panama City, Florida. The facility includes eight bay doors sized for pickup trucks and straight trucks, along with concrete flooring, central air, and a metal roof. The enclosed site provides parking for business operations, equipment, and visitors.
The property is positioned within an established commercial and industrial area with access to major roadways. Its warehouse configuration and truck-oriented bay access support industrial, storage, service, and owner-user applications.
The property is positioned within an established commercial and industrial area with access to major roadways. Its warehouse configuration and truck-oriented bay access support industrial, storage, service, and owner-user applications.
Key Highlights
- Approximately 4,320 SF warehouse on a 0.73‑acre parcel
- Eight bay doors with pickup truck height/straight truck height
- Fully fenced site with ample parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,722
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$654,440
$654.4K
Cap Rate 7%
$467,457
$467.5K
Cap Rate 9%
$363,578
$363.6K
Market Conditions
NOI Build-Up for 4,320 SF
Gross rent
$41.0K $9.48/SF
− Vacancy
−$2.5K −$0.57/SF
EGI
$38.5K $8.91/SF
− OpEx
−$5.8K −$1.34/SF
NOI
$32.7K $7.57/SF
Area
Bay County, FL
Vacancy
6.00%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$654,440
Cap Rate 7%
$467,457
Cap Rate 9%
$363,578
Alternative Uses
Best Use
Warehouse
$467.5K
$409.0K – $545.4K
NOI $32,722 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,109 @ 7.0% cap · market cap 12.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32405, FL
28,158
Population
13,585
Households
2.1
Avg Household Size
40
Median Age
29%
College-Educated
92%
High-School Grad
18.8 sq mi
ZIP Area
1,498
Density / Sq Mi
$71,002
Median Household Income
$41,867
Median Earnings
$1,418
Median Rent
$255,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- Gulf Coast Storage - Sherman — 1920 Sherman Ave, Panama City, FL 32405
- Heintz Designs Vintage Trailer Restorations — 2046 Sherman Ave, Panama City, FL 32405
- East Avenue Storage LLC — 2131 N East Ave, Panama City, FL 32405
- Bay Palm Self Storage — 2629 Canal Ave, Panama City, FL 32405
Frequently Asked Questions
What type of property is this?
Warehouse - Concrete-floor facility with central air, metal roofing, and a fully enclosed site.
Where is this warehouse located?
The property is located at 2337 Industrial Drive Panama City, FL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Approximately 4,320 SF warehouse on a 0.73‑acre parcel; Eight bay doors with pickup truck height/straight truck height; Fully fenced site with ample parking
